John Kay
speaker
106 appearances
4 recordings
1 series
first heard Dec 2010
last heard Jan 2013
John Kay’s voice in public audio — every appearance, attributed to the second.
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Appearances
We have to focus on the system, not on the individual institutions.
Risk-taking organisations ought to be small with a rather close relationship between the people who actually put up the money to take the risks and the people who make the decisions about the risks.
And the banks that you and I deal with every day ought to be the rather kind of boring institutions that banks used to be, where a very large number of fairly ordinary people take in deposits and make routine loans.
and manage millions of transactions competently every day without making very many mistakes.
So in the case of a business like Barclays, the critical thing would be splitting it up between the traditional retail boring bank and the speculative risky investment bank in which the greedy people get large rewards when things go right.
and hopefully make large losses themselves when things go wrong.
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